During the first quarter of 2022, the year-on-year rate of change of Spanish GDP stood at 6.41%, registering an improvement compared to the previous quarter. As for the labour market, the percentage of unemployed in the labour force registered an increase compared to the previous quarter, rising to a rate of 13.65%. On the other hand, employment registered a rate of variation of 4.57%, after registering a slight acceleration compared to 4Q21. Inflation grew to a year-on-year rate of 7.83%. Finally, with respect to the exchange rate, the euro depreciated against the dollar in 1Q22, with an average exchange rate of 1.12 $/€.

Macroeconomic outlook report: Spain 1Q22

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Macroeconomic overview

For more information, click here to access the executive document in pdf (only avalaible in Spanish).